back Back

AvidXchange and Wise partner to expand International Payments capabilities

By Edlyn Cardoza

December 08, 2022

  • Accounts Payable Automation Software
  • AvidXchange Holdings
  • B2B Payments

AvidXchange Holdings, Accounts Payable Automation Software, Wise, Cross Border Payments, Oracle NetSuite, SuiteApp, SuiteCloud, International Payments, Foreign Exchange Fees, Financial Services, Cash Flow, Embedded Payments, Domestic Payments, B2B Payments, Money Transmitter, USA

AvidXchange, one of the leading providers of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, launched a Cross-Border Payments solution powered by Wise Platform.

“Partnering with Wise to provide our customers with best-in-class international payment capabilities was an easy decision because of their market-leading platform and seamless integration capabilities,” said Dan Drees, Chief Growth Officer of AvidXchange. “Together, we stand firm as leaders and remain dedicated to making our customers’ payments process more efficient regardless of country lines.”

This industry-leading embedded payment experience provides U.S.-based AvidXchange customers with a more convenient payment process by allowing them to pay domestic and international suppliers without leaving the platform. With this fully automated accounting process, AvidXchange customers have better visibility into foreign exchange fees and any gains or losses, giving them more control over costs and cash flow from the beginning.

In doing so, these businesses can save time and money with their payment processes by reducing the amount of manual work required to print paper checks and keep track of costly international wire fees. Plus, by allowing a singular platform to handle accounting and payment tasks, the process of paying international suppliers is more secure than sending essential documents in the mail or sharing bank account information across multiple accounting systems.

“Current systems don’t allow businesses to easily send, spend or receive money internationally. Through our collaboration with AvidXchange, Wise is helping businesses gain access to a faster, more cost-effective and seamless way to manage finances with domestic and international suppliers in multiple currencies and countries,” said Steve Naude, Head of Wise Platform. “With 50% of Wise’s transfers sent instantly, always at the mid-market rate, AvidXchange customers can now have confidence knowing they are saving time and money with each transaction.”

Wise Platform is live with over 50 banks and businesses that have integrated the power of Wise — embedding the best way to move money internationally from within its existing infrastructure. With a dedicated implementation team consisting of delivery, engineering, customer, and product specialists, Wise Platform works collaboratively with partners like AvidXchange to seamlessly integrate the Wise APIs into partner and user interfaces.

AvidXchange, Inc. is a licensed money transmitter for US B2B payments, licensed as a Money Transmitter by the New York State Department of Financial Services, as well as all other states that require AvidXchange to have a license.

Previous Article

December 08, 2022

Swiss Digital Bank Alpian goes live on Temenos Banking Cloud

Read More
Next Article

December 08, 2022

Worldline brings Express Transit for Apple Pay to France

Read More

IBSi Daily News Analysis

Data privacy

July 16, 2024

Accounts Payable Automation Software

Rise in sophisticated attacks, state-level threats, and increased ransom DDoS Incidents

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 17, 2024

SWiM PAY launches new instant digital payments feature

Read More

July 17, 2024

Mangopay & ManoMano simplify payments for marketplace sellers

Read More

July 17, 2024

Alawneh Exchange taps TerraPay to enhance cross border payments

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024